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The first major crypto regulatory intiative in the U.S. is about to become law after the House of Representatives passed the stablecoin bill known as the GENIUS Act.
The approval came directly on the heels of another major legislative accomplishment for the industry, when the House also passed the Clarity Act that would govern the oversight of the digital assets markets in the U.S.
The first significant crypto bill is on its way to being signed into law after the U.S. House of Representatives passed stablecoin-regulating legislation known as the Guiding and Establishing National Innovation for U.S.
StableCoins (GENIUS) Act, which now gets forwarded to President Donald Trump.
The landmark legislative achievement for the crypto industry marks a sharp turnaround from recent years in which the sector languished under resistant U.S. regulators and a Congress unable to finish policy efforts. And it follows close behind another major House action to pass the Digital Asset Market Clarity Act (known as "CLARITY") — a bill that will establish a full set of rules over the wider crypto markets.